Wijaya Karya Beton (Wika Beton) to Conduct IPO on Indonesia Stock Exchange
Wijaya Karya Beton (Wika Beton), a company that specializes in the precast concrete industry, is planning to conduct an initial public offering (IPO) on the Indonesia Stock Exchange this year. The company, which has appointed Mandiri Sekuritas as its underwriter, aims to raise about IDR 1 trillion (USD $103 million) through the IPO. Originally, its IPO was planned to be conducted in 2014. However, the company prefers to take advantage of current positive market sentiments.
Wika Beton is a subsidiary of state-controlled company Wijaya Karya (Wika), which is involved in engineering and construction work in Indonesia and foreign countries. Its businesses include civil engineering, building construction, and the construction of industrial plants as well as energy facilities.
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